Haliey Welch, the viral sensation known as the “Hawk Tuah Girl,” has finally addressed the collapse of the $HAWK memecoin. This follows weeks of silence and a class-action lawsuit alleging investors lost $151,000 due to the coin’s failure. Welch claims she is cooperating with legal efforts to identify and hold those responsible accountable.
From Viral Star to Controversy
Haliey Welch rose to fame in June when her “hawk tuah” catchphrase went viral. Content creator DeArius Marlow recorded Welch describing her humorous take on a bedroom move, which launched her into the spotlight. The original TikTok post amassed 9.7 million views and became an internet phenomenon.
Following her viral success, Welch expanded her brand significantly. She copyrighted the “hawk tuah” phrase, launched a podcast called Talk Tuah, and created an AI-powered dating app named Pookie Tools. Welch also ventured into cryptocurrency, lending her name to the $HAWK memecoin.
What Is a Memecoin?
Memecoins are cryptocurrencies inspired by internet memes. Their value often depends on attention and enthusiasm from online communities. While they can provide significant returns for early adopters, memecoins are notoriously volatile and risky investments. The $HAWK memecoin was no exception.
The Rise and Fall of $HAWK
The $HAWK memecoin launched on 4 December and quickly gained traction. However, its value skyrocketed before collapsing dramatically, leaving many investors with losses. On 19 December, investors filed a lawsuit against the Tuah the Moon Foundation, the OverHere crypto team, and influencer Alex Larson Schultz, also known as Doc Hollywood.
Sources close to Welch told Mashable that she had received a sponsorship fee for promoting $HAWK. They also claim she was not involved in the coin’s development. Critics suspect the collapse may have been a cryptocurrency scam known as a “rug pull,” where creators abandon a project after profiting from its hype.
Welch’s Initial Reaction
Welch and the OverHere crypto team hosted an X Spaces audio stream on 5 December to address investor concerns. During the stream, listeners heavily criticised the team’s lack of answers regarding the coin’s collapse. Welch interrupted the session, saying, “Hey, guys! I hate to interrupt you, Nick, but hello there. Anywho, I’m gonna go to bed and I’ll see you guys tomorrow.”
The audio clip went viral on TikTok and became the last public statement Welch made until 20 December.
Welch Breaks Her Silence
On 20 December, Welch posted a statement on X addressing the controversy. She stated, “I take this situation extremely seriously and want to address my fans, the investors who have been affected, and the broader community.”
“I am fully cooperating with and am committed to assisting the legal team representing the individuals impacted, as well as to help uncover the truth, hold the responsible parties accountable, and resolve this matter,” Welch added.
She provided a link to Burwick Law, the firm suing over the memecoin, and urged affected individuals to contact them.
Figure 1: Tweet of Hailey Welch about the $HAWK Memecoin Collapse
What Caused the Collapse?
Critics allege that snipers, entities that buy large quantities of tokens at launch, caused the collapse. Reports indicate one wallet purchased 20 percent of $HAWK’s supply and flipped it for a $1.3 million profit within hours.
Welch defended herself against allegations of insider trading, stating on X, “My team hasn’t sold one token.”
Lawsuit Details
The lawsuit targets the Tuah the Moon Foundation, OverHere, and Doc Hollywood. It accuses them of selling unregistered securities, violating U.S. securities laws. Welch is not named in the lawsuit but remains under scrutiny for her role in promoting the coin.
Welch’s Commitment to Justice
In her statement, Welch expressed a desire to help uncover the truth and hold responsible parties accountable. She emphasised her cooperation with the legal team representing impacted investors.
The controversy has overshadowed Welch’s meteoric rise from viral star to business mogul. While she insists on her limited involvement, her association with the failed memecoin continues to draw criticism.
Conclusion
The $HAWK memecoin controversy highlights the risks of investing in speculative digital assets and the influence of social media endorsements. As legal proceedings unfold, Welch’s role in the scandal will likely face further scrutiny.
Haliey Welch’s willingness to cooperate with investigators signals her commitment to resolving the issue. For now, the viral star turned entrepreneur remains in the spotlight for all the wrong reasons.